Media Monitoring - Norton Gold Fields Limited

 Media Monitoring 15 June 2012 HIGHGRADE
http://www.franchise.net.au/article/Six‐Snap‐franchises‐get‐new‐CEO/533728.aspx NORTON GOLD DIRECTORS RECOMMEND CHINESE TAKEOVER JUNE 15 – The board of Australian gold producer Norton Gold Fields has recommended acceptance of the takeover bid by big Chinese company Zijin Mining Group Co. Norton chairman Tim Prowse says the recommendation is based on the substantial premium the bid represents and the absence of a superior offer. Prowse says he intends to accept Zijin’s offer, which will remain open for a minimum of one month. Assuming the offer becomes unconditional, Norton shareholders will get a total return of $A0.27ps – the 25cps offer price and a 2cps special unfranked dividend that Norton proposes to pay subject to certain conditions being met. The deal represents a substantial premium to the 18.5cps when the informal approach by Zijin was announced in March 2012. Today’s ASX price is 23cps. Zijin is one of the largest mining companies in China with a market capitalisation of about $A12B and interests spanning gold, copper, zinc, lead, tungsten and iron ore. Purple Communications 1